The Chronicle: Issue 2015-05, February 3, 2015
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What's Going Through The Intersection of Insurance and Technology?
The Digital Insurance Organization: If or When? |
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13th Annual Insurance-Canada.ca Technology Conference Welcome and thank-you to our 2015 conference sponsors:
Oceanwide as a Silver Sponsor. |
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Business of Insurance
EY: Insurers must embrace digital to improve poor customer relationships
High turnover and low trust ratings in the Canadian insurance industry could be countered by nurturing better customer relationships, according to EY's Consumer Insurance Survey: Reimagining Customer Relationships. Digital communication channels and improved distribution strategies will help insurance companies better connect with consumers and gain market advantage.
Creechurch expands cyber liability insurance
Creechurch Underwriters, a leading underwriter of cyber and technology insurance in Canada, has announced the expansion of its cyber privacy coverage, including risk mitigation and breach hotline services. And to assist its policyholders with suspected cyber incidents or security breaches, Creechurch offers access to the services of CGI, one of the largest information technology firms in the world and a leading provider of cyber security services.
Technology
CGI and Hitachi Data Systems announce global strategic partnership to launch suite of secure, private and hybrid cloud services
Hitachi Data Systems (HDS), a wholly owned subsidiary of Hitachi, Ltd., and CGI, the fifth-largest independent information technology and business process services firm in the world, have announced a significant milestone in their strategic agreement to provide clients with enterprise-grade cloud services powered by Hitachi Data Systems. As part of its portfolio of Digital Transformation services, CGI can now offer clients a number of secure cloud storage solutions that enable access to business critical data from mobile devices and traditional desktops. These solutions give clients peace of mind knowing that their data is safe and uncompromised.
Cognizant whitepaper: Drones: The Insurance Industry's Next Game-Changer?
Most of us have seen or read about the objects flying above soccer fields during the recent 2014 FIFA World Cup soccer matches. These unmanned aerial vehicles (UAVs), or drones, were deployed as a security measure to patrol the skies during the sporting event. Understandably, the technology has captured the imagination of a wide audience because of its ability to maneuver and easily carry out activities that were previously performed by humans. Drones have actually been in service since the 19th century, and used for years by the armed forces for reconnaissance. However, they are soon expected to take center stage with the anticipated ruling from the Federal Aviation Administration (FAA) on the use of small unmanned aerial vehicles in U.S. skies.
Telematics
ICTA nomination: IBRI Tackles Fleet Management Issues with Telematics Solutions
In June 2014, IBRI began working with a brokerage specializing in high risk fleets to develop a Canadian Commercial Telematics solution focused on the taxi and limo business lines. IBRI branded the solution as fleetadvisor™. Fleetadvisor is a web-based fleet management solution sold by brokers that assists fleet managers in managing risk. Launched at the Annual IBAO Conference in October 2014, the solution uses in-vehicle devices that record and reveal rich, real-time data; a fleet presentation portal, equipped with a customizable user dashboard that demonstrates and displays the information to fleet managers; comprehensive reporting that presents data of fleet activity and the results of diagnostic and analytical tools and insurance scoring capabilities to use in fleet underwriting.
eMarketer: Smartphone car app sales to speed up through 2020
Are fears about self-driving cars subsiding as more emerge? Based on November 2014 GfK polling, the answer is yes. Two-thirds of consumers with drivers licenses polled worldwide said self-driving cars were appealing.
Policy Management
ICTA nomination: Johnson Inc. Improves Property Underwriting with Peril Scores from OPTA
As Canada's largest Property & Casualty aggregator, Opta's unique data solutions provide significant lift to some of the most advanced industry models utilized by the largest and most sophisticated insurers in Canada, including Johnson Inc. The solution uses a vast amount of data specific to roof top geo-coded locations and sophisticated modelling techniques. Johnson's quick and nimble ability to adopt the solution along with the use of the technology has positioned Johnson to improve their risk selection and pricing approaches ahead of their peers. Johnson continues to grow and be strategically selective in their growth.
EIS Group: Latest EIS Suite release introduces pre-configured solution packages for commercial insurance lines
EIS Group Inc. (formerly Exigen Insurance Solutions) is pleased to announce Version 6.2 of the EIS Suite™ which introduces Pre-Configured Solution Packages for commercial auto, property and general liability, complete with out-of-the-box functionality for speed-to-market and a lower total cost of ownership (TCO) for insurers looking to replace critical core systems.
Distribution
ICTA nomination: RSA Uses Technology To Provide Leading-Edge Support To Brokers
Broker experience and Ease of Doing Business are key pillars of RSA's relationship with our brokers and we are always looking to improve the tools our brokers use. The new Live Chat feature on our WebBusiness personal lines portal, which is powered by LivePerson, allows brokers to interact with an RSA web agent in a new way that makes their processing experience easier and more seamless so that they don't have to stop what they are doing in WebBusiness. Leveraging a technology that has been successfully used in consumer-facing websites, Live Chat allows brokers to service their customers faster, make transacting with RSA easier, and helps them get answers quickly to questions they would normally phone or email in.
Applied Systems: First West selects Applied Epic for its insurance business
Applied Systems has announced that First West Credit Union has selected Applied Epic to standardize its insurance operations on a single integrated software system. With Applied Epic, First West aims to increase operational efficiencies and improve client service across all of its regional insurance businesses, including Valley First, Enderby & District Financial, Envision Financial and Island Savings.
SCM Insurance Services launches Xpera Risk Mitigation and Investigation
SCM Insurance Services is pleased to announce the launch of its new brand, “Xpera Risk Mitigation and Investigation.” Xpera is a result of the merger between Forensic Investigations Canada (FIC), SCM's previous risk and investigation brand, and CKR Global, a national leader in investigation and risk mitigation, purchased by SCM in August 2014. Aligning with SCM's long-term plan for strategic growth and drive to grow its core services it a way that ultimately benefits its clients, SCM identified CKR Global as a way to expand its market share and client offerings.
ICBC unveils top fraud files of 2014
An exaggerated injury claim refuted by a travel blog; a hit-and-run victim turned perpetrator; and a false identity detected with facial recognition technology. These are just three of the most interesting cases from ICBC's fraud files last year. In 2014, ICBC's two special investigation units advanced 131 charges to Crown counsel against 100 defendants, maintaining our average conviction rate of approximately 90 per cent per year.
Consumer Information
TD Insurance: Single-source solution to offer greater convenience for auto insurance customers
TD Insurance is teaming up with its preferred vendors to provide greater convenience to its auto insurance customers with a new, complete one-stop shop solution for auto collision repairs. Starting February 2, 2015, TD Insurance auto insurance customers will be able to complete all the steps of an auto collision repair process – file a claim, drop off their vehicle, get their vehicle appraised, repaired, and if needed, rent a car – all at one location. In addition, they will only need to deal with one contact throughout the claims process.
In The Community
Aviva Canada announces the 2014 Aviva Community Fund winners
The Aviva Community Fund – Canada's longest-running online community funding competition – has wrapped up another year and created positive change in communities across Canada. Forty inspiring ideas entered the competition finals, representing causes that ranged from creating storage space for Vancouver's homeless population to enhancing a high school field to make it more accessible to a growing Ontario community, to renovating a beloved camp in Quebec. Winners were announced last week, live on CTV's Canada AM broadcast.